The first edition of our bi-monthly newsletter is launched as the MENA banking sector undergoes its most significant transformation in decades. As AI reshapes operations and regulatory frameworks evolve, the demand for professionally qualified banking specialists has never been greater. PDI stands at the forefront of this revolution, providing internationally recognized qualifications that bridge traditional banking expertise with the cutting-edge skills required today. In this edition, we explore why professional qualifications matter more than ever in MENA’s evolving banking sector and how PDI plays a pivotal role in empowering careers. Read our full feature article Navigating MENA’s Banking Revolution

And many people in the Middle East are opting for digital currencies because of the privacy it affords while making transactions, reflecting the region’s preference for financial security and discretion, according to a global study by Bitget Wallet, an arm of leading crypto exchange Bitget.

A sizeable number of cryptocurrency users in the region, however, are concerned about security risks amidst the surge in phishing scams, exchange breaches and Ponzi schemes, making security a top priority

“Whether for personal savings, business dealings or investment purposes, [Middle Eastern users] are increasingly preferring crypto as it offers a way to transact without excessive scrutiny or third-party oversight,” the study said.

“This also aligns with the growing demand for decentralized financial solutions in the region that put users in control of their wealth,” it said.

Bitget Wallet, however, said while crypto presents exciting financial opportunities, strengthening security education and implementing more user-friendly protections will be key to boosting confidence in crypto payments. Many new users remain vulnerable to cyber threats, it said.

High transaction fees are another barrier for wide-spread use of crypto transactions in the Middle East, as unpredictable costs reduce its appeal for users relying on crypto for remittances, business transactions, or daily payments, the study said.

“Many individuals and businesses face barriers in transferring funds across borders due to banking regulations or limited access to international financial networks.

“Crypto eliminates these restrictions, allowing users to send and receive money effortlessly, regardless of location. This has made digital assets particularly attractive for expanding business opportunities and enabling financial inclusion,” Bitget Wallet said.

It, however, pointed out that clearer regulations and enhanced legal protections will be essential for building trust, ensuring that crypto can evolve into a more secure and widely accepted financial tool in the region.

The global study of crypto users across regions also revealed that privacy concerns drive adoption in the Middle East (38%) and Western Europe (35%).

The study, however, said across regions, limited merchant acceptance – estimated at 31% – continues to be a major barrier, preventing crypto from being a widely used everyday payment method.

Lack of legal protection is another major obstacle for wider crypto adoption, with as much as 30% of Middle Eastern users highlighting it as a key concern.

“Unlike traditional finance, crypto transactions often lack consumer safeguards, leaving users exposed to fraud, disputes or lost funds with no recourse,” Bitget Wallet said.

The study also revealed that some regions see crypto as an alternative financial system rather than just a payment method.

Generational differences in crypto usage revealed that Gen X (49%) prioritises speed, while Millennials (42%) and Gen Z (39%) favour borderless transactions.

The study also showed that security concerns are highest among Gen X (42%), while Gen Z (36%) is more sensitive to transaction fees.

While younger users are more willing to integrate crypto into their daily financial activities, usability challenges and a lack of financial infrastructure remain key hurdles for broader adoption, Bitget Wallet said. “Across generations, the top reasons for using crypto payments remain consistent, but key differences emerge in priorities,” it said.

The study said privacy and cost savings resonate across all age groups, with 37-40% citing privacy as a major factor and 37% appreciating lower transaction fees.

While all generations recognize the convenience of spending crypto without converting to fiat, Gen X and Millennials (39%) lead in this preference.

“These insights suggest that while Gen Z is more experimental, Millennials and Gen X see crypto as both a practical tool and a financial alternative, with speed, accessibility, and privacy driving adoption,” Bitget Wallet said.

Gen Z is also slightly more inclined toward crypto’s ability to bypass traditional financial systems, it said.

The study is expected to enable industry stakeholders to anticipate trends, refine user experiences, and develop solutions that enhance trust, usability, and global acceptance of crypto as a viable payment method.

Greenfield FDI is a form of FDI where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up.

In 2024, Dubai attracted AED52.3bn ($14.24bn) in estimated FDI capital, a 33.2% increase from AED39.26bn ($10.69bn) in 2023, marking the highest FDI value recorded to date in a single year for the emirate since 2020.

Dubai attracted a record-breaking 1,117 greenfield FDI projects in 2024, the highest number in its history.

A total 58,680 estimated jobs were generated through FDI in 2024, a 31% increase, from 44,745 jobs in 2023.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said: “Dubai’s ability to steadily consolidate its status as a leading global destination for foreign direct investment reflects its commitment to delivering exceptional value to investors worldwide.

“The city’s ranking as the world’s number-one destination for attracting greenfield FDI for the fourth consecutive year is a testament to its ability not only to set new global benchmarks for sustained, rapid growth but also to continuously evolve its investment proposition in response to changes sweeping the international market.

“This success is the result of a strategic vision that keeps pace with economic and technological transformations, aligned with the ambitious objectives of the Dubai Economic Agenda D33 to double the size of the emirate’s economy by 2033 and establish it as one of the world’s top three urban economies.”

Sheikh Hamdan added: “We remain committed to fostering a culture of innovation, enhancing economic competitiveness, and building an exceptional ecosystem that empowers businesses and investors to achieve growth and prosperity.”

Dubai’s forward-looking strategies have transformed the emirate into a global hub for FDI, with the city’s attractive business environment, favourable regulations, infrastructure, and strategic location making it a preferred destination for investors.

In 2024, the city was ranked fourth globally for attracting greenfield FDI capital, up from fifth position in 2023, while also claiming the top spot in the Middle East and Africa (MEA) region, according to the Financial Times data.

The city also advanced from fourth to third globally in terms of jobs created through inward FDI in 2024, securing the top position in MEA.

The data also showed that Dubai experienced a surge in talent attraction across key sectors, including business services, software IT services, real estate, logistics, financial services and consumer products.

For the third consecutive year, Dubai was also ranked first globally in the attraction of Headquarter (HQ) FDI projects, with 50 projects in 2024.

Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), said: “The influx of new capital also underscores the confidence that investors, multinational corporations, and global talent place in our resilient ecosystem, bolstered by the collaborative spirit of public-private partnerships and the transformative goals of the Dubai Economic Agenda, D33.

“Looking ahead, Dubai remains committed to setting new benchmarks in global competitiveness through forward-thinking regulations, cost-effective energy solutions, and strategic global partnerships, as we continue building an ecosystem that empowers businesses to thrive.”

He added: “Our focus on innovation, start-up incubation and digital-first infrastructure ensures that Dubai will continue to be the destination of choice for those seeking growth, opportunity, and success in the global economy.”

The Financial Times data also showed that venture capital-backed FDI increased by 39%, reinforcing Dubai’s position as a thriving hub for start-ups and high growth ventures. And mergers and acquisitions (M&As) rose by 8%, demonstrating strong corporate interest in strategic partnerships and market consolidation.

Dubai FDI Monitor, published by DET, revealed that the top five source countries for FDI capital accounted for 63% of the total estimated flows into the Emirate in 2024.

India was the top source country with the highest total estimated FDI capital into Dubai, accounting for 21.5%, followed by the United States (13.7%), France (11%), the United Kingdom (10%) and Switzerland (6.9%).

Based on FDI capital, the leading sectors were hotels and tourism (14%); real estate (14%); software and IT services (9.2%); building materials (9%); and financial services (6.8%).

Published by Deloitte, in collaboration with Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the report revealed the immense opportunities presented by artificial intelligence (AI) in the Middle East.

Called ‘The Perfect Storm: A perspective on unlocking AI’s value in Middle East’, the report also shines a spotlight on the challenges organisations face when investing in AI technology and ensuring they fully understand and utilise its potential.

It draws on insights from more than 150 business and technology leaders across the UAE, Saudi Arabia and Qatar, supplemented by interviews with key industry figures. It explores the dynamics of AI adoption while identifying the challenges that hinder progress and the strategies organizations are using to manage risks and maximise value.

While organisations across the Middle East are rapidly increasing AI investments, many lack the foundations needed to realise its full value, the report said.

The research shows more than 80% of organisations feel pressured to adopt AI, yet almost half say they lack the talent and technology capabilities for successful scaling. Despite these challenges, 69% of organisations plan to increase investment in AI technologies in the coming year, according to the report.

Mutasem Dajani, Deloitte Middle East CEO, said: “The GCC region [Cooperation Council for the Arab States of the Gulf] is making substantial investments in AI, driven by strong government commitments. With increasing funding for AI infrastructure and a growing emphasis on developing local talent, the region is positioning itself as a global leader in AI innovation. This transformation is accelerating the shift toward knowledge-based economies, compelling organisations to fundamentally rethink their operations.”

Survey respondents claimed high levels of preparedness for technology infrastructure (71%), talent (68%) and strategy (69%). Risk and governance were slightly lower in terms of feeling highly or very highly prepared (63%). However, when considering only Generative AI (GenAI), global leaders felt much less prepared to address risk and governance, with 41% of leaders reporting they were only slightly or not at all prepared.

Professor Sami Haddadin, MBZUAI’s Vice President for Research, said: “This research highlights an increased focus on developing local AI specialists and practitioners who understand the potential of AI and how to execute implementation, while addressing concerns such as privacy and ethics. The report reveals a critical disconnect – a strong appetite among Middle Eastern organisations to deploy AI outpacing their readiness in terms of talent, strategic planning, and infrastructure.”

In terms of the perceived key benefits of GenAI, 91% of respondents expect increased productivity to be the most transformational benefit. The report found that one in three organisations in the Middle East are spending more than 60% of their AI budget on GenAI, compared with data showing that 72% of global organisations are spending less than 40%. However, not all organisations view AI in a positive light, with 41% seeing AI as a significant threat to their current operating model.

A significant hurdle faced by organisations developing and deploying AI tools is selecting the right technologies, as highlighted by 34% of respondents. Given the complexity of the available AI solutions, it can be difficult for business leaders to know which applications align best with organisational objectives, while another major challenge – difficulty identifying use cases – is closely linked, as organisations grapple with how GenAI can benefit their business.

The report also found:

• UAE leads in adopting IT, digital, and operations-focused AI.
• Most organisations report being in the early stages or proof-of-concept phase of AI adoption, with leading use cases including content generation and summarization.
• Almost 70% of organisations plan to increase headcount for AI roles, emphasising a need for talent growth including upskilling existing staff and attracting AI graduates.
• Organisations see AI’s primary benefits as increased productivity (91%) and efficiency but struggle to measure ROI effectively.
• Data security (65%), regulation compliance (67%) and the talent gap (44%) are among the top concerns for AI implementation.
• Some 34% of respondents faced a significant hurdle selecting the right technologies to develop and deploy AI tools.
• The main reasons for AI model selection are support/access to expertise, accuracy and speed.

Launched in February, DXB Female Founders (DFF) will run monthly events dedicated to empowering women entrepreneurs in the UAE. The events will feature interactive workshops, expert-led sessions and inspiring stories designed to equip women with the essential skills and knowledge to succeed in business.

The inaugural event on 12 February highlighted ‘Founder Stories’, featuring Saba Yussouf, General Partner of Nettle Ventures. A successful entrepreneur, she sold her first company at 24 for £2 million and now leads a $60 million biotech firm.

She shared key insights on investor readiness, what investors look for and how founders can better prepare for funding.

Another speaker featured at the event also featured Marisa Peer, a best-selling author. Her talk focused on overcoming limiting beliefs, building self-confidence, and achieving entrepreneurial success.

The events series is sponsored by Google Cloud. Faranak Farahmand Pour, Director of Global Strategic Initiatives at Google Cloud, said: “Through our support of the DXB Female Founders event series, we aim to help unlock the immense potential of female talent in this region and contribute to the UAE’s ambitious goals for economic growth and technological advancement.”

Nicki Bedford, Founder & CEO of DXB Female Founders, added: “DXB Female Founders is dedicated to providing women entrepreneurs with the tools, knowledge, and network they need to succeed – while being surrounded by a supportive community of women who genuinely want to see each other succeed.

“Our monthly series offers practical workshops, mentorship opportunities, and a supportive community to help women overcome challenges, scale their businesses, and achieve their full potential.”

Bedford said that by equipping women with essential skills, fostering valuable connections, and providing access to experienced mentors through the DFF network, initiative aims to fuel the growth of the UAE’s entrepreneurial ecosystem.

The series directly aligns with the nation’s ambitions for technological leadership, economic diversification, and fostering a culture of innovation, she said.

Bedford added: “We are incredibly grateful for Google Cloud’s sponsorship and their commitment to empowering women in tech. Their support will enable us to reach more women and provide them with unparalleled access to resources and expertise.

“The DXB Female Founders series is more than just an event; it’s a strategic incubator for ideas, collaboration and leadership development, designed specifically for the UAE’s burgeoning entrepreneurial community.”

UAE launches cybersecurity strategy

The UAE’s National Cybersecurity Strategy was officially unveiled at the World Government Summit (WGS) 2025 in Dubai earlier in February.

Launching the initiative, Mohamed Al Kuwaiti, Head of the Cyber Security Council (CSC), said the strategy was part of the UAE’s efforts to keep pace with major and rapid transformations across various sectors, particularly in advanced technology, further cementing the country’s position in artificial intelligence and the digital economy.

Al Kuwaiti said that the recently approved five-year National Cybersecurity Strategy, endorsed by the UAE Cabinet, is built around five key pillars.

These pillars are designed to enable the safe and rapid adoption of innovations while ensuring a secure, resilient, and robust digital environment.

He further highlighted that the strategy includes specific goals and initiatives aimed at strengthening and growing the national economy, in addition to protecting critical infrastructure.

He noted that global losses from cyberattacks, cyber warfare, and cyberterrorism were estimated at around $10tn in 2024, underscoring the UAE’s early recognition of the need to enhance its cybersecurity framework in line with global best practices.

To this end, the UAE has invested over $2bn in cybersecurity and digital transformation.

Al Kuwaiti also revealed that the Cybersecurity Council is currently finalising several policies, including a cryptography policy, which will be implemented in the first quarter of 2025.

Additionally, the council is working on new cybersecurity standards to enhance institutional compliance and security measures.